Home Affordable Refinance Program

What's the Home Affordable Refinance Program?

Many refinance programs require a significant amount of home equity. HARP is a government program that allows eligible homeowners to refinance their mortgage even if they owe more than their home is worth.

Who can benefit from HARP refinancing?

A HARP loan may be a good option for you if you don't qualify for other refinance programs and want to:

Reduce your mortgage payment,or

Lower your interest rate, or

Shorten the term of your current mortgage

Who's eligible for a HARP loan?

You may be eligible for the program if:

You're current on your mortgage payments

You haven't already refinanced the same property under HARP

Your current mortgage is owned or guaranteed by Fannie Mae or Freddie Mac, and was originated before June 2009

Is your current loan from Wells Fargo Home Mortgage?

The HARP refinance process may be simpler for current mortgage customers, requiring less paperwork and documentation. Contact us to learn more about HARP and other refinance options.

If you are a service member on active duty, prior to seeking a refinance of your existing mortgage loan, please consult with your legal advisor regarding the loss of any benefits you are entitled to under the Servicemembers Civil Relief Act or applicable state law.

The interest on any portion of credit greater than the fair market value of your property is not tax deductible for Federal income tax purposes. You should consult your tax advisor regarding the tax deductibility of interest and charges.

Reducing your payment may be the result of a lower interest rate, extending the term of your loans, or a combination of both. By extending the loan term, you may pay more in interest over the life of the loan.

In certain circumstances, you may be required to provide documentation. Please ask a Wells Fargo Home Mortgage consultant for details. Depending on their specifics, programs that do not require customary information and documentation may result in higher interest rates and Annual Percentage Rates than a traditional mortgage program.